The Investment Thread (help with savings, stocks, retirement funds, etc.) - Page 17 - Antsmarching.org Forums - Dave Matthews Band Discussion

Go Back   Antsmarching.org Forums - Dave Matthews Band Discussion > General Discussion > nDMBc Discussion


Want to hide all ads on Ants? Click here
Reply
 
Thread Tools Display Modes
Old 06-18-2015, 05:37 AM   #481
YouNeverKnow25
 
Join Date: Feb 2004
Posts: 38,550

Shows Seen: 110

DMB Hub Stubs: 29

My Tour Central Stats

Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

I would not use the term "credit" but essentially, yes
YouNeverKnow25 is offline   Reply With Quote

  • Want to hide all ads on Ants? Click here
  • Old 06-18-2015, 06:44 AM   #482
    dpresti
     
    dpresti's Avatar
     
    Join Date: Sep 2003
    Location: LA
    Posts: 2,901

    Shows Seen: 26

    DMB Hub Stubs: 12

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
    Originally Posted by AJF_41 View Post
    vanguard is a solid low cost option



    buying physical gold is a horrible idea
    even more so from that linked website

    So my neighbor (same guy that's trying to sell me insurance investment products0 is now trying to lure me into this gold MLM investment crap.

    Nice guy but boy-oh-boy!!!
    __________________
    --Derek 4 Real--
    dpresti is offline   Reply With Quote
    Old 06-18-2015, 04:28 PM   #483
    jackisback24
    He's using hypnosis!
     
    Join Date: Jan 2009
    Posts: 16,675

    Shows Seen: 0

    DMB Hub Stubs: 1

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
    Originally Posted by YouNeverKnow25 View Post
    I would not use the term "credit" but essentially, yes
    Okay, thanks guys. I was just on the phone with Fidelity and the issue of ordinary income tax came up because I've had the shares for less than a year. I explained that I bought them at market value, no discount so that couldn't be an issue. Seems like different info every time I call them.
    jackisback24 is offline   Reply With Quote
    Old 06-18-2015, 04:38 PM   #484
    Jsc6545
     
    Jsc6545's Avatar
     
    Join Date: Jun 2008
    Posts: 22,104

    Shows Seen: 51

    DMB Hub Stubs: 25

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Also, pretty sure the limit per year is only 3,000
    __________________
    Quote:
    Originally Posted by Dave Matthews
    I definitely want people to walk away feeling like, "That was almost cool."
    Jsc6545 is offline   Reply With Quote
    Old 06-18-2015, 05:00 PM   #485
    kittensXLI
    Save_Us.Y2J
     
    kittensXLI's Avatar
     
    Join Date: Feb 2005
    Posts: 66,565

    Shows Seen: 6

    DMB Hub Stubs: 5

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    What's going on with Mylan lately?
    Hold on for now or is it time to sell?
    __________________
    Quote:
    Originally Posted by LadyMadonna68 View Post
    Why the spike in candy consumption?
    kittensXLI is offline   Reply With Quote
    Old 06-19-2015, 05:38 AM   #486
    crb60
     
    crb60's Avatar
     
    Join Date: Jun 2009
    Location: Pittsbugh, PA
    Posts: 617

    Shows Seen: 23

    DMB Hub Stubs: 10

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
    Originally Posted by kittensXLI View Post
    What's going on with Mylan lately?
    Hold on for now or is it time to sell?
    Hold it! If Teva keeps buying up shares, or even offers a tender offer for some shares, the stock price (should) go up or if a tender offer is offered, it will be at a premium to the current price.
    crb60 is offline   Reply With Quote
    Old 06-19-2015, 07:20 AM   #487
    Benny003
     
    Benny003's Avatar
     
    Join Date: Feb 2002
    Location: Minneapolis, MN
    Posts: 14,673

    Shows Seen: 60

    DMB Hub Stubs: 23

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
    Originally Posted by jackisback24 View Post
    Okay, thanks guys. I was just on the phone with Fidelity and the issue of ordinary income tax came up because I've had the shares for less than a year. I explained that I bought them at market value, no discount so that couldn't be an issue. Seems like different info every time I call them.
    You only pay taxes on gains. So all that matters is how much you bought them for, how much you sold them for, and when you sold them (before or after having them for 1 year). If you sold them for less than you paid, then you can deduct the loss. If you sold them for more than you paid, then you either pay short-term capital gains tax on the sale or you pay long-term capital gains tax depending on if you held the stock that you sold for more than a year or not prior to the sale.
    Benny003 is offline   Reply With Quote
    Old 06-19-2015, 08:15 AM   #488
    jackisback24
    He's using hypnosis!
     
    Join Date: Jan 2009
    Posts: 16,675

    Shows Seen: 0

    DMB Hub Stubs: 1

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
    Originally Posted by Benny003 View Post
    You only pay taxes on gains. So all that matters is how much you bought them for, how much you sold them for, and when you sold them (before or after having them for 1 year). If you sold them for less than you paid, then you can deduct the loss. If you sold them for more than you paid, then you either pay short-term capital gains tax on the sale or you pay long-term capital gains tax depending on if you held the stock that you sold for more than a year or not prior to the sale.
    okay, so if I held for less than a year, if it is an overall slight loss, if I sell a few shares there's no tax implications because there were no gains. I suppose if I purchased at a discounted rate the answer may be different, but they were purchased at market price. I only sold a few as I'm going on vacay, but the stock is turning around for the better this week.

    Thanks.
    jackisback24 is offline   Reply With Quote
    Old 06-19-2015, 09:42 AM   #489
    Benny003
     
    Benny003's Avatar
     
    Join Date: Feb 2002
    Location: Minneapolis, MN
    Posts: 14,673

    Shows Seen: 60

    DMB Hub Stubs: 23

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
    Originally Posted by jackisback24 View Post
    okay, so if I held for less than a year, if it is an overall slight loss, if I sell a few shares there's no tax implications because there were no gains. I suppose if I purchased at a discounted rate the answer may be different, but they were purchased at market price. I only sold a few as I'm going on vacay, but the stock is turning around for the better this week.

    Thanks.
    Nothing matters until you sell them as far as taxes go unless you received them as some kind of bonus or something. So whether you bought them at a discount or market value doesn't matter until you sell them and then the only thing you need to care about is purchase price minus sale price. The IRS doesn't classify things any differently whether you purchased them at a discount or not unless the discount was part of some kind of bonus or something.

    http://www.irs.gov/uac/IRS-Reminds-T...o-Reduce-Taxes
    Benny003 is offline   Reply With Quote
    Old 06-19-2015, 09:51 AM   #490
    YouNeverKnow25
     
    Join Date: Feb 2004
    Posts: 38,550

    Shows Seen: 110

    DMB Hub Stubs: 29

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    I wouldn't say "no tax implications" if you sell at a loss. You can use that loss to offset other income.
    YouNeverKnow25 is offline   Reply With Quote
    Old 06-19-2015, 10:27 AM   #491
    JimiThing1234
     
    JimiThing1234's Avatar
     
    Join Date: Aug 2008
    Posts: 4,813

    Shows Seen: 48

    DMB Hub Stubs: 18

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    hey guys looking for some advice here:

    I'm starting medical school in the fall at my state school. Tuition is around 20k/year. Renting a 1BR apt close to school is between 800-1000/month+utilities. I'll be living mostly off of loans, though my parents are helping with some of the living expenses. My dad has offered to buy me a condo, COA is relatively cheap here so I can get a decent one near school b/w 80,000-90,000. What do you guys think is the better financial move here...to buy or rent? I probably won't stay in the same city for residency so we'd either have to sell the place or rent it out in 4 years.

    Having my own place has is it's perks vs. renting, just don't want to be caught in a financial mess in 4 years.
    JimiThing1234 is offline   Reply With Quote
    Old 06-19-2015, 10:31 AM   #492
    YouNeverKnow25
     
    Join Date: Feb 2004
    Posts: 38,550

    Shows Seen: 110

    DMB Hub Stubs: 29

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    so...you aren't doing the buying?
    YouNeverKnow25 is offline   Reply With Quote
    Old 06-19-2015, 10:40 AM   #493
    JimiThing1234
     
    JimiThing1234's Avatar
     
    Join Date: Aug 2008
    Posts: 4,813

    Shows Seen: 48

    DMB Hub Stubs: 18

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
    Originally Posted by YouNeverKnow25 View Post
    so...you aren't doing the buying?
    No, my dad is going to be put 20% down. We aren't rich by any means and I'm close with my parents so I'd hate to put him in a tough situation when I graduate school. They're kind of against renting because they see it as throwing money away vs. making an investment. I just don't know how good of an investment it is since it isn't a big city to begin with.
    JimiThing1234 is offline   Reply With Quote
    Old 06-19-2015, 10:45 AM   #494
    YouNeverKnow25
     
    Join Date: Feb 2004
    Posts: 38,550

    Shows Seen: 110

    DMB Hub Stubs: 29

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    depends on rental market in the area. if it's strong, go for it. if not, I'd proceed with more caution. given that there's a med school there, it's probably not so bad.

    look at an amortization table for a 30 year mortgage though, paying close attention to how much of each payment goes to interest versus principal. it's not pretty.
    YouNeverKnow25 is offline   Reply With Quote
    Old 06-19-2015, 11:00 AM   #495
    Benny003
     
    Benny003's Avatar
     
    Join Date: Feb 2002
    Location: Minneapolis, MN
    Posts: 14,673

    Shows Seen: 60

    DMB Hub Stubs: 23

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
    Originally Posted by JimiThing1234 View Post
    hey guys looking for some advice here:

    I'm starting medical school in the fall at my state school. Tuition is around 20k/year. Renting a 1BR apt close to school is between 800-1000/month+utilities. I'll be living mostly off of loans, though my parents are helping with some of the living expenses. My dad has offered to buy me a condo, COA is relatively cheap here so I can get a decent one near school b/w 80,000-90,000. What do you guys think is the better financial move here...to buy or rent? I probably won't stay in the same city for residency so we'd either have to sell the place or rent it out in 4 years.

    Having my own place has is it's perks vs. renting, just don't want to be caught in a financial mess in 4 years.
    http://www.bing.com/search?FORM=WLET...c=IE-SearchBox
    Benny003 is offline   Reply With Quote
    Old 06-19-2015, 11:02 AM   #496
    JimiThing1234
     
    JimiThing1234's Avatar
     
    Join Date: Aug 2008
    Posts: 4,813

    Shows Seen: 48

    DMB Hub Stubs: 18

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
    Originally Posted by YouNeverKnow25 View Post
    depends on rental market in the area. if it's strong, go for it. if not, I'd proceed with more caution. given that there's a med school there, it's probably not so bad.

    look at an amortization table for a 30 year mortgage though, paying close attention to how much of each payment goes to interest versus principal. it's not pretty.
    Yeah that's essentially my main worry is the market, I'm not from the area I'm moving to but it is the biggest hospital network in the region, so I'm assuming it can't be THAT bad.
    JimiThing1234 is offline   Reply With Quote
    Old 07-04-2015, 09:47 AM   #497
    deadendstreet
     
    Join Date: May 2007
    Posts: 2,022

    Shows Seen: 0

    DMB Hub Stubs: 1

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Hey all,

    I curious if anyone here currently works in education or in the past has worked in education. I've worked with a college in Texas for the past 6 years. I recently accepted a job out of education, so I will no longer have the option of using TRS. My question is, should I move my money from TRS to something else? I have no plans to go back into education (I'm not a teacher). Any advice? I'm pretty ignorant when it comes to this stuff, so if there are any good online resources you'd recommend me reading, please let me know.
    __________________
    Beau

    Last edited by deadendstreet; 07-04-2015 at 09:48 AM.
    deadendstreet is offline   Reply With Quote
    Old 07-04-2015, 06:05 PM   #498
    smokew11
    1-0
     
    smokew11's Avatar
     
    Join Date: Sep 2007
    Location: Reading, Pa
    Posts: 69,843

    Shows Seen: 40

    DMB Hub Stubs: 18

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    i would absolutely move it to something that you can choose, unlike your current situation. whether its a traditional IRA or an index fund, do some research
    __________________
    MyShows
    smokew11 is offline   Reply With Quote
    Old 07-08-2015, 12:24 PM   #499
    dpresti
     
    dpresti's Avatar
     
    Join Date: Sep 2003
    Location: LA
    Posts: 2,901

    Shows Seen: 26

    DMB Hub Stubs: 12

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    WTF is going on? YIKES!!!
    __________________
    --Derek 4 Real--
    dpresti is offline   Reply With Quote
    Old 07-08-2015, 02:09 PM   #500
    UCFish
    Mr. Hospitality (Glow)
     
    Join Date: Sep 2003
    Location: Tampa Bay
    Posts: 27,711

    Shows Seen: 179

    DMB Hub Stubs: 35

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Really obnoxious
    __________________
    179 shows and counting
    WhT campaigner. In memory of shiny tape and misappropriated funds
    UCFish is offline   Reply With Quote
    Old 07-08-2015, 03:10 PM   #501
    Jsc6545
     
    Jsc6545's Avatar
     
    Join Date: Jun 2008
    Posts: 22,104

    Shows Seen: 51

    DMB Hub Stubs: 25

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    They're saying it wasn't a hack or anything malicious, but idk....
    __________________
    Quote:
    Originally Posted by Dave Matthews
    I definitely want people to walk away feeling like, "That was almost cool."
    Jsc6545 is offline   Reply With Quote
    Old 07-08-2015, 03:43 PM   #502
    zajDmB1
     
    Join Date: Oct 2003
    Location: New York City
    Posts: 30,837

    Shows Seen: 44

    DMB Hub Stubs: 17

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Nobody will admit if it was I'm sure, but Anon did tweet this last night: "Wonder if tomorrow is going to be bad for Wall Street.... we can only hope."
    zajDmB1 is offline   Reply With Quote
    Old 09-08-2015, 06:12 PM   #503
    Nick@Night
    Big Nick Energy
     
    Join Date: Jun 2005
    Location: Minneapolis, MN
    Posts: 33,954

    Shows Seen: 16

    DMB Hub Stubs: 11

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    In a couple weeks, I'm starting a job where I will be getting a decent raise in my salary. I currently contribute 6% to my 401(k) and get matched up to that 6% from my company (so I'm at 12% a year going in to my retirement fund). I want to increase my contribution towards retirement savings with this raise, possibly up to 8% from 6%, but I wonder if I shouldn't start a Roth IRA instead, and put the extra 2% towards that, after-tax.

    Thoughts?
    __________________
    I've done the math enough to know the dangers of our second-guessing.
    Nick@Night is offline   Reply With Quote
    Old 09-08-2015, 06:19 PM   #504
    smokew11
    1-0
     
    smokew11's Avatar
     
    Join Date: Sep 2007
    Location: Reading, Pa
    Posts: 69,843

    Shows Seen: 40

    DMB Hub Stubs: 18

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    I would put the extra money into a Roth IRA for many reasons. First, by doing so you're continuing to diversify your portfolio. Two, you have a choice in what you're investing in. Three, it's tax free
    __________________
    MyShows
    smokew11 is offline   Reply With Quote
    Old 09-08-2015, 06:23 PM   #505
    Jsc6545
     
    Jsc6545's Avatar
     
    Join Date: Jun 2008
    Posts: 22,104

    Shows Seen: 51

    DMB Hub Stubs: 25

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Simply opening a Roth and putting money into isn't diversifying your portfolio. A Roth IRA isn't an investment
    __________________
    Quote:
    Originally Posted by Dave Matthews
    I definitely want people to walk away feeling like, "That was almost cool."
    Jsc6545 is offline   Reply With Quote
    Old 09-08-2015, 06:26 PM   #506
    Jsc6545
     
    Jsc6545's Avatar
     
    Join Date: Jun 2008
    Posts: 22,104

    Shows Seen: 51

    DMB Hub Stubs: 25

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    And you have to be careful when saying is tax free. Roth IRAs are only good if you anticipate having a higher tax rate when you'd be making withdrawals, which most people probably won't
    __________________
    Quote:
    Originally Posted by Dave Matthews
    I definitely want people to walk away feeling like, "That was almost cool."
    Jsc6545 is offline   Reply With Quote
    Old 09-08-2015, 07:57 PM   #507
    AJF_41
     
    AJF_41's Avatar
     
    Join Date: Mar 2005
    Posts: 64,250

    Shows Seen: 27

    DMB Hub Stubs: 10

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
    Originally Posted by Nick@Night View Post
    In a couple weeks, I'm starting a job where I will be getting a decent raise in my salary. I currently contribute 6% to my 401(k) and get matched up to that 6% from my company (so I'm at 12% a year going in to my retirement fund). I want to increase my contribution towards retirement savings with this raise, possibly up to 8% from 6%, but I wonder if I shouldn't start a Roth IRA instead, and put the extra 2% towards that, after-tax.

    Thoughts?
    i've been using a 401k due to tax advantages today

    i don't know if there is a clear cut answer

    i thought this was helpful

    https://www.fidelity.com/viewpoints/...ender-or-saver


    congrats on the new gig!

    Quote:
    Originally Posted by smokew11 View Post
    I would put the extra money into a Roth IRA for many reasons. First, by doing so you're continuing to diversify your portfolio. Two, you have a choice in what you're investing in. Three, it's tax free
    the type of account isn't diversification
    what the account is invested in would drive diversification…
    __________________
    the feeling returns, whenever we close our eyes...

    growing vinyl collection: https://www.discogs.com/user/AJF_41/collection/covers
    AJF_41 is offline   Reply With Quote
    Old 09-08-2015, 08:00 PM   #508
    smokew11
    1-0
     
    smokew11's Avatar
     
    Join Date: Sep 2007
    Location: Reading, Pa
    Posts: 69,843

    Shows Seen: 40

    DMB Hub Stubs: 18

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
    Originally Posted by AJF_41 View Post
    i've been using a 401k due to tax advantages today

    i don't know if there is a clear cut answer

    i thought this was helpful

    https://www.fidelity.com/viewpoints/...ender-or-saver


    congrats on the new gig!



    the type of account isn't diversification
    what the account is invested in would drive diversification…
    yeah this is what I meant
    __________________
    MyShows
    smokew11 is offline   Reply With Quote
    Old 09-08-2015, 08:09 PM   #509
    AJF_41
     
    AJF_41's Avatar
     
    Join Date: Mar 2005
    Posts: 64,250

    Shows Seen: 27

    DMB Hub Stubs: 10

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    __________________
    the feeling returns, whenever we close our eyes...

    growing vinyl collection: https://www.discogs.com/user/AJF_41/collection/covers
    AJF_41 is offline   Reply With Quote
    Old 09-08-2015, 08:44 PM   #510
    Nick@Night
    Big Nick Energy
     
    Join Date: Jun 2005
    Location: Minneapolis, MN
    Posts: 33,954

    Shows Seen: 16

    DMB Hub Stubs: 11

    My Tour Central Stats

    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
    Originally Posted by AJF_41 View Post
    i've been using a 401k due to tax advantages today

    i don't know if there is a clear cut answer

    i thought this was helpful

    https://www.fidelity.com/viewpoints/...ender-or-saver


    congrats on the new gig!
    Thanks!

    I keep looking at the tax advantages now as being most helpful. I'm single without kids, so I don't have a lot of deductions except from mortgage interest and property taxes to lower my tax bill.
    __________________
    I've done the math enough to know the dangers of our second-guessing.

    Last edited by Nick@Night; 09-08-2015 at 08:45 PM.
    Nick@Night is offline   Reply With Quote
    Reply

    Thread Tools
    Display Modes

    Posting Rules
    You may not post new threads
    You may not post replies
    You may not post attachments
    You may not edit your posts

    BB code is On
    Smilies are On
    [IMG] code is Off
    HTML code is Off

    Forum Jump


    Want to hide all ads on Ants? Click here

    All times are GMT -7. The time now is 05:20 AM.


    Powered by vBulletin® Version 3.8.14
    Copyright ©2000 - 2024, vBulletin Solutions Inc.


       
    Site LinksAbout AntsAnts MobileTweet Tweet
    Home
    Ants+
    Tour Central
    Search bar
    RSS Feeds
    About Us
    Contact Us
    The Ants Blog
    Advertise on Ants
    Privacy Policy
    Ants on your cell phone
    iAnts
    mobile news
    mobile setlists
    antslive!
    Ants' Twitter
    DMBLive Twitter
    Ants Facebook
    Ants Instagram